ECB Official Urges Digital Euro to Guard Europe's Monetary Sovereignty

The ECB's proposed digital euro would offer a shared payment infrastructure for transactions across the euro area, while leaving room for private payment providers to develop services on top of it.

The central bank has also been working to answer concerns that a digital euro could pull deposits away from commercial banks. ECB analysis covering 2,025 banks found that holding limits between 500 euros and 3,000 euros would have a limited effect on banks' liquidity and funding under normal conditions. Under a 3,000 euro limit, the ECB estimates the aggregate liquidity coverage ratio would decline from 166% to 163% when deposit inflows tied to falling cash use are excluded, while the net stable funding ratio would slip from 128% to 127%.

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